Retirement Planning - Lessons Learned

[Sigarms]

Washington's minimum wage is $13.69, but I doubt many people are looking to work for that. Around here, Taco Bell starts employees at $14.20. Maybe it's different in the South. Do Walmart and grocery stores only charge 50% of PNW prices there?

My one 16 year old has worked for 8 months at minimum wage in NC, $8.15 an hour. 8 months, never missed a days work when he was planned, always came in when he was asked as wasn't on the schedule. Proud of him as he has banked over 7k saving every penny.

Same company he works at starts others at $,9 and the same franchise is opening another location starting at $10, yet he can't transfer for more money (he pays for gas and his portion of car insurance).

There is about 3 of them who work hard who interviewed at a local family diner who will start them off at $9. I sincerely hope every good worker leaves, as I do believe they are screwed up management wise from what I've seen. That said, he's stuck with the BS and proud of him for that as well.

 

[Torvy]

Shaking my head at the lack of fundamental economics understanding. Too bad econ was not required in HS back in the day. Maybe some people would understand what it is they are actually saying.

 

[Sigarms]

Shaking my head at the lack of fundamental economics understanding. Too bad econ was not required in HS back in the day. Maybe some people would understand what it is they are actually saying.

Don't spend what you can't already have the money for. If you have the money and have a good interest rate to boot, use someone elses money.

Is that wrong?

I'm in my 50's, the only thing we both owe on is our house and land.

 

[RickB]

Credit is a tool just like any other. I've seen businesses fail because of too much debt. I've also seen businesses fail because of a fear of taking on any debt.

 

[MoKelly]

Shaking my head at the lack of fundamental economics understanding. Too bad econ was not required in HS back in the day. Maybe some people would understand what it is they are actually saying.

Yes. It’s shocking sometimes.

But - unfortunately most view economics through their political beliefs which is so distorted it’s shocking.

But - that is life today.

Someone once said “it’s not what you don’t know that’s dangerous, it’s what you think you know but don’t know that’s truly dangerous”.

MoKelly

 

[ultrarunner]

That's admirable. I got a free high school education and heavily subsidized college education courtesy of the taxpayer. It helped a lot. Washington's minimum wage is $13.69, but I doubt many people are looking to work for that. Around here, Taco Bell starts employees at $14.20. Maybe it's different in the South. Do Walmart and grocery stores only charge 50% of PNW prices there?

The $300 unemployment boost expires in September, and 26 states have already cancelled it without seeing an uptick in hiring. It looks like the "nobody wants to work" rant was just BS. People aren't willing to sit still and be screwed any more. The handwriting on the wall is, if you have employees you better keep them happy. Half of them would like to work elsewhere, and 44% already have one foot out the door.

Is now a good time to change careers? More workers are feeling good about it

In an exclusive ‘Fast Company’-Harris Poll, 59% of middle-income workers said they’re thinking about changing jobs. Remote work continues to be a draw.

www.fastcompany.com

If a person is able to meet their obligations and not work I say more power to them...

The last 18 months have been a reset for many finding they can do with less and not even miss it.

I do have a problem when obligations freely undertaken are ignored with no intention of ever honoring commitments...

Case in point is the Billions owed on defaulted rent where the property owner is required under penalty of law to continue paying for and providing services without recourse...

Something is terribly wrong with government forced servitude and no recourse... which is exactly what is happening now...

The fallout has affected too many modest retirement plans...

 

[Steppenwolfe]

Shaking my head at the lack of fundamental economics understanding. Too bad econ was not required in HS back in the day. Maybe some people would understand what it is they are actually saying.

Please... enlighten us. What are we missing?

 

[MossRoad]

That's a good plan!

After age of 65 you qualify for Medicare and can shop around for supplementary ins. available in your state.

That should not be too hard to find?

Yes, but I'm talking before 65.

After 65 it'll be medicare and supplementals.

 

[Fuddy1952]

I'm 69, wife 67. Both Anthem Blue Cross, both (part F now I'm thinking G) so it's like $150 deductible per year. She has prescription (D?). Each is about $150-$200/month so not bad at all.
Yes, I'd also like economics lesson.

 

[lman]

One lesson is if you don't work, you can get free government paid medical insurance.